Latest News:  
Beijing   Overcast/Moderate rain    9 / 12 ℃  City Forecast

English>>China Society

Dirty coal

By Ling Yuhuan (Global Times)

14:34, October 29, 2012

(File Photo)

A county government has announced an investigation into the sale of a 200 million yuan ($32 million) State-owned coal mine for less than one-five hundredth of its value to the brother-in-law of a local official in Shanxi Province.

The investigation by the Baode county government comes five years after the sale, and was announced last Thursday after the details were exposed by an investigative report published in the Legal Weekly last week.

The Balougou coal mine was sold for 375,000 yuan in November 2007 by the local Economic and Trade Bureau to Zhang Huaibao, brother-in-law of Li Xinsheng, who once served as the head of the local mine bureau and the local Administration of Work Safety, and two other buyers. Xi was assigned as vice director of the Xinzhou Coal Industry Bureau in Shanxi in 2010.

A woman who once worked at the mine said that Zhang and the other two buyers were the major shareholders of the mine before the auction, with a 70 percent stake. The miner asked that her name be withheld.

The price of the mine skyrocketed to 260 million yuan when Zhang resold the mine two years later to Shenda Jinbao Coal Corporation.

"The mine is worth over 300 million yuan nowadays," Jiang Shuofu, legal representative of Shenda Jinbao Coal Corporation, told the Legal Weekly.

At the time, the transactions sparked speculation about corruption among many coal miners.

However, several miners' efforts to report the incident were completely ignored by local authorities, the anonymous miner told the Global Times on Friday.

Chen Qiang, director of the publicity department of Baode county government, told the Global Times on Friday that the government had not received any report or discovered anything unusual in the two transactions - until the Legal Weekly published its report.

【1】 【2】 【3】 【4】



Most viewed commentaries
Recommended News
12 hours before execution of female prisoners Sexy girls in China's national pole dancing team A glimpse of hard security guard training
Typhoon Son-Tinh brings gales, downpours Top 10 self-made businesswomen in China Life behind bars (II)

Email|Print|Comments(Editor:梁军、马茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Aircrafts to perform in Zhuhai Air Show

  2. Weekly review of military photos

  3. The world in photos (2012.10.21-10.27)

  4. Typhoon Son-Tinh brings gales

  5. Shanghai enveloped in haze

  6. Exporters note the drag of US, Japanese

  7. Female K-pop idols with perfect figure

  8. Why women are better than men in spying?

Most Popular

Opinions

  1. Asian Americans are x factor in U.S. swing states?
  2. Understanding key to Sino-US relations
  3. Kindergarten abuse cases becoming major worry
  4. Reform required for China's economic growth
  5. External markets crucial for business success
  6. Fears that yuan rise will hit exports unfounded
  7. Tax reform crucial to stable growth
  8. No sharp decline for property prices
  9. Japan to bear consequence of breaking promise
  10. How to hard sell China's soft power

What’s happening in China

50,000 gay people attended same sex parade in Taiwan

  1. Taxi windows locked for security
  2. Buzz word:Chinese style road crossing
  3. City more prosperous, but life harder: experts
  4. Public to have say on distribution of funds
  5. Shanghai 3rd best in Asia Pacific for shopping